Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condo closed its cumulative deals tender with bids dipping under of its own reserve value and has actually at the moment moved in the confidential treaty arrangement approach, presented The Business Times citing PropNex Realty.
The 309-unit property was opened for collective transaction on 21October this year lugging a minimum price of $640 mil.
PropNex Chief of Inv and Collective Sales Tracy Goh think the 10-week private treaty negotiation course will certainly provide attracted parties “considerable moment” to review their plans and strategies, provided the brand-new residence cooling down strategies.
” We continue to be meticulously positive concerning the collective deal tender presented the eye-catching site area also the short amount of brand-new nonpublic housing supply in the nearby locations.”
The government presented brand new real estate cooling down actions on 16December, that include more costly Additional Buyer’s Stamp Duty premiums, to suppress the exuberance present in the property market.
By having the updated actions, developers experience an ABSD rate of Thirty Five%, increase from Twenty Five % in the past. The Business Times mentioned that home experts suppose developers being further aware for their land possessions and the cumulative transaction hype to die.
Lakepoint Condominium is a Ninety Nine yr leasehold project that holds over 5hundred 62thousand 2hundred 86 sq ft. Positioned close to Jurong Lake Area plus Lakeside Mass Rapid Transit station, the location is zoned for Non commercial utilization underneath the 2019 Masterplan holding a land ratio of One point Four.